Wednesday, 10 May 2017

In a bid to realize the Federal Government’s mandate to deploy the nation’s gas resources to stimulate economic growth, the Nigerian National Petroleum Corporation (NNPC) and its partners have evolved a scheme to grow gas supply for domestic consumption by 285% from1.3billion standard cubic feet per day to 5bscf/d by 2020.

This was disclosed at the 7 Critical Gas Development Projects (7CGDP) stakeholders’ meeting on Tuesday at the NNPC Towers in Abuja.The stakeholders made up of NNPC and seven other oil and gas companies listed the seven projects earmarked for fast-track execution to meet the 285% domestic gas supply growth projection to include: Assa North-Ohaji South Field Development (ANOH); Oil Mining Lease 24 and OML 18 Joint Development and Shell Petroleum Development Company Joint Venture/Nigeria Agip Oil Company Joint Venture Unitized Gas Fields.

Addressing the partners at the meeting, the Group Managing Director of NNPC, Dr. Maikanti Kacalla Baru, stated that the Federal Government has directed the Corporation to aggressively pursue gas development to jump start the nation’s economic growth.

He outlined the strategic focus for achieving the Federal Government’s mandate to include growing capacity to supply enough gas to generate 15Gigawatts of electricity to the power sector by 2020, stimulating gas-based industrialisation by positioning Nigeria as the African regional hub for gas-based industries such as Fertilizer, Petrochemicals, Methanol and developing gas for export by selectively expanding export footprint in high value and strategic foreign markets.

He said appropriate funding for the seven (7) critical gas projects should be a priority and a key success factor, adding that alternative funding through third party financing option would be adopted to facilitate execution of these vital projects.

The GMD urged the partners to work together to ensure that the critical gas projects were executed expeditiously for the benefit of the country, adding that NNPC Top Management was available to work with all stakeholders to ensure timely delivery of the projects.

Responding, the Managing Director of Shell Petroleum Development Company (SPDC), Mr. Osagie Okunbor, applauded the GMD for his uncommon focus to ensure optimal production and delivery of gas to power, industry and for export, assuring that with proper alignment of the key parties, the projects would be delivered as scheduled.

Endorsing the partnership, the Director of Department of Petroleum Resources, Mr. Mordecai Ladan, who was represented at the meeting, assured the stakeholders that the DPR would provide all the needed support to ensure the timely delivery of the projects.

Present at the meeting were the seven (7) critical stakeholders which include: Shell Petroleum Development Company (SPDC); Nigerian Agip Oil Company (NAOC); Nigerian Petroleum Development Company (NPDC); Chevron Nigeria Limited (CNL); Seplat Petroleum Development Company PLc; Newcross Exploration and Production Limited and Eroton Exploration and Production.